Extends preservation of existing rights for historic preservation tax credits to July 1, 2023.

This bill amends the historic preservation tax credit to extend the preservation of existing rights for tax credits issued, awarded, or allowed prior to July 1, 2023. It ensures that the tax credit remains 100 percent refundable for credits issued before this date, countering the effects of House File 2317 which reduced the refundability of the credit starting January 1, 2023. The bill does not affect any tax credits issued, awarded, or allowed before July 1, 2023, including any carryforward amounts.

Extends preservation of existing rights for historic preservation tax credits to July 1, 2023.

This bill amends the historic preservation tax credit to extend the preservation of existing rights for tax credits issued, awarded, or allowed prior to July 1, 2023. It ensures that the tax credit remains 100 percent refundable for credits issued before this date, countering the effects of House File 2317 which reduced the refundability of the credit starting January 1, 2023. The bill does not affect any tax credits issued, awarded, or allowed before July 1, 2023, including any carryforward amounts.